Morgan Stanley Decreases Stake in Heritage Commerce Corp (HTBK)

Morgan Stanley decreased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,282 shares of the financial services provider’s stock after selling 22,906 shares during the period. Morgan Stanley owned approximately 1.00% of Heritage Commerce Corp worth $5,376,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. American International Group Inc. raised its stake in Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,038 shares during the last quarter. Stevens Capital Management LP raised its stake in Heritage Commerce Corp by 19.8% in the first quarter. Stevens Capital Management LP now owns 13,974 shares of the financial services provider’s stock valued at $197,000 after buying an additional 2,308 shares during the last quarter. TFS Capital LLC raised its stake in Heritage Commerce Corp by 21.1% in the first quarter. TFS Capital LLC now owns 20,643 shares of the financial services provider’s stock valued at $291,000 after buying an additional 3,595 shares during the last quarter. Stifel Financial Corp raised its stake in Heritage Commerce Corp by 20.6% in the first quarter. Stifel Financial Corp now owns 31,871 shares of the financial services provider’s stock valued at $447,000 after buying an additional 5,436 shares during the last quarter. Finally, Context BH Capital Management LP raised its stake in Heritage Commerce Corp by 8.4% in the first quarter. Context BH Capital Management LP now owns 110,565 shares of the financial services provider’s stock valued at $1,559,000 after buying an additional 8,536 shares during the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.

Shares of Heritage Commerce Corp (HTBK) opened at 13.29 on Friday. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The stock has a market capitalization of $506.75 million, a price-to-earnings ratio of 18.23 and a beta of 0.52. The stock’s 50 day moving average is $13.79 and its 200-day moving average is $13.87.

Heritage Commerce Corp (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $27.23 million during the quarter, compared to analysts’ expectations of $27.90 million. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. On average, analysts expect that Heritage Commerce Corp will post $0.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 3.01%. Heritage Commerce Corp’s dividend payout ratio (DPR) is 54.79%.

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A number of research firms have recently weighed in on HTBK. Brean Capital set a $16.00 target price on shares of Heritage Commerce Corp and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. ValuEngine upgraded shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, BidaskClub lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.50.

In related news, Director J Philip Dinapoli acquired 5,000 shares of the stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $13.53 per share, with a total value of $67,650.00. Following the transaction, the director now directly owns 163,376 shares in the company, valued at $2,210,477.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.69% of the stock is owned by insiders.

About Heritage Commerce Corp

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

Institutional Ownership by Quarter for Heritage Commerce Corp (NASDAQ:HTBK)

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